DoubleVerify (NYSE:DV) Price Target Lowered to $19.00 at Morgan Stanley

DoubleVerify (NYSE:DV - Free Report) had its target price lowered by Morgan Stanley from $21.00 to $19.00 in a research report report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on DV. Wells Fargo & Company initiated coverage on shares of DoubleVerify in a research note on Monday, October 28th. They issued an "underweight" rating and a $14.00 price objective on the stock. Canaccord Genuity Group reduced their target price on DoubleVerify from $36.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Scotiabank began coverage on DoubleVerify in a research note on Thursday, December 5th. They issued a "sector outperform" rating and a $24.00 price target on the stock. The Goldman Sachs Group decreased their price objective on shares of DoubleVerify from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Finally, Macquarie reissued an "outperform" rating and set a $19.00 target price on shares of DoubleVerify in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $24.11.

DoubleVerify Stock Down 1.1 %

NYSE DV traded down $0.21 on Monday, reaching $19.11. 2,054,268 shares of the stock traded hands, compared to its average volume of 2,118,338. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 51.65, a P/E/G ratio of 3.18 and a beta of 0.97. The firm's fifty day simple moving average is $19.85 and its 200 day simple moving average is $19.01. DoubleVerify has a 12 month low of $16.11 and a 12 month high of $43.00.

DoubleVerify announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 6th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In related news, CFO Nicola T. Allais sold 2,071 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $20.51, for a total value of $42,476.21. Following the completion of the transaction, the chief financial officer now owns 85,882 shares of the company's stock, valued at $1,761,439.82. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 5,599 shares of company stock valued at $107,233 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D raised its holdings in shares of DoubleVerify by 22.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 97,681 shares of the company's stock valued at $1,902,000 after buying an additional 17,967 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of DoubleVerify by 20.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 142,377 shares of the company's stock valued at $2,772,000 after purchasing an additional 23,962 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of DoubleVerify by 3.6% in the second quarter. Envestnet Asset Management Inc. now owns 954,521 shares of the company's stock valued at $18,585,000 after purchasing an additional 32,883 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in DoubleVerify by 36.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,422,061 shares of the company's stock worth $47,154,000 after buying an additional 643,679 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of DoubleVerify in the 2nd quarter valued at $3,499,000. 97.29% of the stock is owned by institutional investors.

About DoubleVerify

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and data analytics in the United States and internationally. The company provides solutions to advertisers that enable advertisers to increase the effectiveness and quality and return on their digital advertising investments.